Tethys Pumps Oil at Tajik Well

- Tethys Pumps Oil at Tajik Well

Tuesday, September 13, 2011
Tethys Petroleum Ltd.

Tethys gave an update on its operations in the Republic of Tajikistan.

Testing operations are underway on the East Olimtoi EOL09 exploration well located south of the town of Kulob some 10 km north of the Afghan border. This well reached a total depth of 3,765 meters in the Akdzhar formation and testing operations are being undertaken on the overlying Bukhara and Alai formations.

Currently the well is flowing a mixture of completion brine and oil from the upper Alai sandstone interval, this oil being of good quality with an API gravity of approximately 36 degrees. The current section open to testing includes this upper Alai sandstone unit as well as the lower Alai limestone interval and the upper part of the Bukhara formation. The well was drilled with heavy drilling fluid (weighted with barite), which was required to control the well when it intersected the upper Alai reservoir. Barite is currently being observed in the flow lines which the company believes is also inhibiting flow at present. It is anticipated that the well will clean up in due course, however the cleanup period may take some time. The Company is currently evaluating methods of speeding up the clean up of this well including acidization or nitrogen-lifting using coiled tubing, subject to availability of equipment.

There are two further sandstone zones in the Alai formation which appear oil bearing based on wireline logs and which will be tested after a stable and representative flow rate has been achieved from the upper Alai sandstone unit. The lower part of the Bukhara interval was also tested but was found to have low permeability at this location although with the potential for production in future wells using production enhancement techniques such as hydraulic fracture stimulation. Mobilization of such equipment to Tajikistan would take a
significant amount of time, as such the company has chosen to focus on the upper zones of this particular well at this time.

The Persea 1 exploration well, located near the town of Kurgon-Teppa is progressing within the 12 1/4" hole section. This well is primarily targeting the Bukhara limestone formation in a four-way dip closed structure with the overlying Alai formation forming a potential secondary target. The planned total depth of this well is 2,700 meters and it is expected that this will be reached in October 2011.

Data collection for the gravity, gradiometry and magnetic aerial survey carried out over the 35,000 km2 Bokhtar Production Sharing Contract Area has now just been completed. This will provide additional and more aerially extensive data to complement the existing seismic acquisition with the final processed data and results expected in 4Q 2011.

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Tethys Posts Initial Logging Results from Kalypso Well

- Tethys Posts Initial Logging Results from Kalypso Well

Wednesday, September 07, 2011
Tethys Petroleum Ltd.

Tethys announced the initial logging results of its KBD01 (Kalypso) exploration well drilled in the Kul-Bas block some 50 km north west of the Doris oil discovery.

The well has now reached total depth in what is initially interpreted to be rocks of Carboniferous age. Electric logs just run over the deeper section indicate more than 100 meters of gross potential hydrocarbon bearing zones in what is interpreted to be shelf limestones of Carboniferous age. Hydrocarbon shows were also noted whilst drilling. This is in addition to the hydrocarbon indications noted on logs and drill data in the overlying Jurassic section (logged prior to drilling this deeper hole section).

7-inch liner is now about to be run after which a comprehensive testing program on both the Carboniferous and Jurassic intervals is planned following agreement and approvals from the appropriate Kazakh authorities. Obtaining these approvals could take some 2 months (with mobilization of testing equipment to follow thereafter), as this is an exploration well and, unlike appraisal wells, no estimated testing program could be submitted prior to finishing the well.

The nearest field which produces from similar Carboniferous shelf limestones is the Alibekmola field, some 250km to the north in the pre-Caspian Basin Subsalt. It is likely that the limestone interval will require acidisation and possible fracture stimulation to achieve optimal production performance (as do other similar fields). This will be evaluated as part of the test program planning.

Meanwhile, elsewhere in Kazakhstan the AKD06 Doris oil appraisal well is drilling ahead at a depth of 1,755 meters towards the Aptian sandstone target.

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Tethys Highlights 2Q11 Production

- Tethys Highlights 2Q11 Production

Monday, August 15, 2011
Tethys Petroleum Ltd.

Tethys provided an operational update in conjunction with its financial results for the quarter ended June 30, 2011.

Operational Update - Recent Highlights

Kazakhstan

• AKD05 appraisal well flowed at over 1,500 bopd of good quality oil.
• KBD01 (Kalypso) exploration well close to total depth.
• Drilling operations commenced on AKD06, an appraisal well of the Doris oil discovery targeting the Cretaceous sand.
• Stage 2 oil production facilities installed.

Tajikistan

• East Olimtoi exploration well EOL09 has reached total depth and electric logs are currently being run.
• New exploration well "Persea 1" spudded with total depth expected to be 2,700 meters.
• Aero magnetics and gravity gradiometry survey underway.

Uzbekistan

• Initial jet pump trial on the North Urtabulak oilfield successful.
• Negotiations continue on new production and exploration contracts.

Kazakhstan

The appraisal program on the Doris oil discovery and further exploration on the Akkulka and Kul-Bas block is continuing.

The Kalypso (KBD01) wildcat exploration well which, is targeting primarily a large potential structural closure at Permo-Carboniferous level, is currently at a depth of 4,128 meters in what is interpreted to be Carboniferous limestones. Some oil and gas indications have been observed but the significance of these cannot be ascertained until electric logs have been run and further evaluation carried out. The planned total depth of this well is approximately 4,300 meters.

The Doris (AKD06) appraisal well, which is targeting primarily the Cretaceous sandstone interval, which flowed at over 5,400 barrels of oil per day ("bopd") in the AKD01 Doris discovery well, is currently at a depth of 641 meters. This well is located on an amplitude anomaly derived from detailed spectral analysis of the new 3D seismic dataset and is aimed at establishing a stratigraphic component to the Doris oil accumulation. The planned total depth of this well is 2,400 meters and it is estimated to be completed by October 2011.

Tajikistan

The East Olimtoi (EOL09) exploration well has just reached its total depth of 3,765 meters in the Akdzhar formation. Electric logs are currently being run in the Bukhara and Akdzhar sections as well as the lower part of the overlying Alai formation. The initial results from the raw logs indicate some zones of interest in the Bukhara limestone sequence but further data gathering and analysis is required. The Alai formation showed both good oil and gas shows while drilling (with oil and gas to surface) and the electric logs through this interval indicate several hydrocarbon bearing zones with no evidence of any oil-water contact. Following a full analysis of the Bukhara interval, a testing program will commence. The well is exploring an attractive salt induced structure located in the south-east of the PSC area, south of the town of Kulob and only some 10 kilometres north-west of the Afghan border. The nearest oilfield in that region is the Beshtentak field some 75 km to the north-west.

The Persea 1 exploration well is primarily targeting the Bukhara limestone formation in a four-way dip closed structure with the overlying Alai formation forming a potential secondary target. The well is currently at a depth of 606 meters where casing has been run. The planned total depth of this well is 2,700 meters and it is expected that this will be reached by October. The well is located near the town of Kurgon-Teppa in the south-west part of the PSC area with the nearest field in the same Bukhara horizon being Kyzyltumshuk to the immediate south and south-east of the prospect.

The Company has commenced the gravity, gradiometry and magnetic aerial survey. The survey will cover the entire area of the 35,000 km2 Bokhtar Production Sharing Contract Area and will provide additional and more aerially extensive data to complement the existing seismic acquisition. Over 34% of the survey data has now been acquired and the final processed data and results are expected in 4Q 2011. The Company has previously stated that it is seeking a suitable farm-in partner for its exploration program in Tajikistan and these geophysical data are an important part of the information relating to such a potential farm-in. Discussions with several parties are ongoing.

Uzbekistan

The initial results of the recent jet pump trial on the North Urtabulak oilfield appear successful with oil rates on the two test wells increasing by some 20%. Further work is now underway to ascertain the economics of extending the use of jet pumps on the field (and potentially on any new fields the Company is successful in contracting) which, together with the likely effects of the water injection reconfiguration carried out earlier this year, should have a positive impact on oil production levels from the field in the latter half of 2011.

Negotiations continue with the Uzbek authorities on production enhancement contracts for two further oilfields in the Bukhara area, and work continues on the joint exploration study agreement carried out with the Institute of Geology and Prospecting for Oil and Gas Department of the State Holding Company NHC Uzbekneftegas. This study is now almost complete. Tethys hopes this study will lead onto contracts over these exploration areas.

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Tethys Opens Doris Facilities in Kazakhstan

- Tethys Opens Doris Facilities in Kazakhstan

Tuesday, August 09, 2011
Tethys Petroleum Ltd.

Tethys announced the opening of its Doris oil production facilities in Kazakhstan.

Oil is currently being trucked from this location at a rate of approximately 1,500 barrels of oil per day ("bopd"), which will increase to 2-2,500 bopd with the new production facilities. With the opening of the new rail-loading facility in 4Q of this year, which will reduce the trucking distance by half, it is planned to increase production to 4,000 bopd. The production facility and terminal are designed for potentially much greater production rates in the future.

Dr. David Robson, Chairman, President and Chief Executive Officer of Tethys, who inaugurated the facilities together with the Deputy Governor of the Shalkar Region and the Governor of Bozoi, said, "This is an important step forward in the development of the Doris oilfield. The increase in production capacity and the ability to produce refinery grade crude oil is crucial to the further development of the Doris oilfield. In addition to the increased sales volumes Tethys will also realise better margins. Our Kazakh team have done a tremendous job in delivering this project on time and on budget, particularly in the remote location of Bozoi and I congratulate them on this important milestone. We would expect to see further production increases as we continue to expand the facilities and drill new wells on the Doris field. This is a great day for Tethys!"

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Tethys Lists on LSE

- Tethys Lists on LSE

Monday, July 25, 2011
Tethys Petroleum Ltd.

Tethys Petroleum announced that its entire issued ordinary share capital has been admitted to the standard category of the Official List of the Financial Services Authority and has commenced trading on the main market of the London Stock Exchange under the ticker symbol "TPL". Depository interests, representing Tethys Petroleum ordinary shares, have been admitted to CREST. Shareholders wishing to trade securities in the Company electronically on the London Stock Exchange can trade depository interests representing Tethys Petroleum ordinary shares in CREST.

The primary listing for the ordinary shares of the Company will continue to be the Toronto Stock Exchange in Canada and the Company will continue to retain its secondary listing on the Kazakhstan Stock Exchange.

The Company is not raising any funds or issuing any new shares in connection with its listing in London and, accordingly, the interests of existing shareholders of the Company will not be diluted as a result of Admission. There will remain 260,629,769 ordinary shares of the Company in issue.

Dr David Robson, Chairman, President and Chief Executive Officer of Tethys Petroleum commented, "Our listing on the main LSE exchange represents a further major stage in the development of our company and will, we believe draw attention to our progress to UK and international investors."

Tracey Pierce, Director of Equity Primary Markets at London Stock Exchange Group, said, "We are delighted to welcome Tethys to the London Stock Exchange's Main Market today. This listing will give the company exposure to the world's most international market and to an unrivalled source of liquidity and new investors. Tethys' admission to the Exchange reinforces London's attractiveness to companies which have global reach and ambitions."

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Tethys Updates Operations at Tajik Well

- Tethys Updates Operations at Tajik Well

Thursday, June 09, 2011
Tethys Petroleum Ltd.

Tethys announced a further update on the East Olimtoi EOL09 exploration well in south-western Tajikistan.

Electric logs have now been run in the well over the Alai interval (a secondary target) which, as previously announced produced live oil and gas to surface while drilling and showing high formation pressures. The electric logs have confirmed the probable presence of moveable hydrocarbons in the interval from 3,341 to 3,500 meters. Independent petrophysical interpretation indicates up to 32 meters of net hydrocarbon bearing pay in the section with porosities of up to 17%. No oil-water contact is interpreted in this section of the well. The potential closure covers an area of over 10 km2 in the East Olimtoi prospect alone.

The well is currently drilling ahead at a depth of 3,544 meters in the Suzak shale which separates the Alai from the Bukhara limestone. Depending on formation pressures it is planned to set 7 inch casing at the base of the Suzak Shale prior to drilling through the Bukhara. It is planned to conduct production testing on all zones of interest after the drilling has been completed in approximately 3-4 weeks.

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Tethys Makes Oil Find at Tajik Well

- Tethys Makes Oil Find at Tajik Well

Friday, May 27, 2011
Tethys Petroleum Ltd.

Tethys issued a holding statement with regard to oil being encountered in its Tajik exploration well East Olimtoi EOL09 in order to ensure all pertinent information is available to the market and the Company's stakeholders.

While drilling at a depth of 3,342 meters in sandstones of the Alai formation (a secondary target) there was a strong flow of live oil to the surface accompanied by 33% gas in the drilling mud. After closing of the blowout preventer the well was successfully stabilized and drilling operations have now recommenced.

The oil, which appears to be of medium density, flowed despite drilling with heavy mud (1.57 SG) reflecting a pressure of some 512 atmospheres (7,524 psia) in the reservoir.

The primary target for the well is the Paleogene Bukhara limestone formation and it is planned to set casing prior to entering this zone. The well is exploring an attractive salt induced structure and is planned to reach a total depth of some 3,800 meters.

The well is located in the south-east of Tethys' Contract area, south of the town of Kulob and only some 10 kilometers north-west of the Afghan border. The nearest oilfield in that region is the Beshtentak field some 75 km to the north-west which produces oil from the Bukhara limestone.

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Tethys Petroleum: Kazakhstan Operations Update

Tethys Petroleum: Kazakhstan Operations Update

Monday, May 09, 2011
Tethys Petroleum Limited

Tethys Petroleum Limited today provided an update on the progress in its Kazakhstan oil appraisal and exploration activities.

The AKD04 (Dero) appraisal well has now reached total depth of 2,566 metres and electric logging has been carried out. This well is located on the separate Dero part of the structure to the east of the AKD01 Doris oil discovery and was designed to ascertain the potential in the Upper Jurassic carbonate zone and the edge of the Lower Cretaceous (Aptian) sandstone in this area. Interpretation of the well data shows both the Jurassic carbonate and the Aptian sand to be present in the well with both showing indications of hydrocarbons. These two horizons were the zones that tested oil in the AKD01 well. Preparations are currently being made to run casing which will be followed by an appropriate testing programme - following receipt of the usual consents from Kazakh authorities.

In the AKD05 Doris appraisal well, the 9 5/8" casing has been set and it is drilling ahead. This well is currently on prognosis and should reach planned total depth of 2,500 metres by the end of this month.

Further evaluation of the recently acquired 3D seismic dataset using state of the art processing and interpretation techniques is revealing the probable presence of sand fans in the Cretaceous sandstone sequence and these data are being integrated with the results of the well data to plan future appraisal well locations in the greater Doris area.

Testing of the AKD03 (Dione) exploration well continues after the successful test of a new sandstone zone in the Upper Jurassic, which flowed dry oil at over 400 barrels per day. The company believes that a significantly higher flow rate may be achieved with a horizontal or high angle completion, and will determine optimised well designs as part of the overall development plan following completion of the appraisal and exploration programme. The overlying Upper Jurassic carbonate has now been tested but no commercial oil flow was obtained. Testing will now be undertaken on the good quality potentially oil-bearing Cretaceous sandstone interval (which is similar to the main reservoir zone in the AKD01 well) and which shows the best reservoir properties of the zones being tested. The extent and potential of this Dione flank structure is currently being evaluated using the new 3D seismic dataset.

The KBD01 (Kalypso) wildcat exploration well is currently drilling at a depth of 2,498 metres. This well is being drilled on a large structure some 50 km to the north west of the Doris discovery with its primary target being at approximately 4,000 metres and with secondary targets above this. Seismic shows this prospect to have up to 400 metres of potential vertical closure. Hydrocarbon shows have been observed in the drilled section. It is expected that this well will reach total depth in July 2011.

Tethys is focused on oil and gas exploration and production activities in Central Asia with activities currently in the Republics of Tajikistan, Kazakhstan and Uzbekistan. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.

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Tethys Oil Reports Heavy Oil Discovery in Oman

Tethys Oil Reports Heavy Oil Discovery in Oman

Wednesday, April 06, 2011

Tethys Oil AB

Tethys Oil reported that work on well SE-7 on Block 4 onshore the Sultanate of Oman has been completed. The well encountered several intervals of heavy oil, but no flows were established. The rig has moved to Block 3 to drill the Farha South-7 well.

SE-7 successfully reached a total depth of 1,890 meters, where the main target was to test the presence of oil in the Khufai section in the southern part of the Saiwan East structure. The well identified a more than 90 meter thick column of intermittent heavy oil saturation in the upper parts of the Khufai. A limited test program was run, using a wireline MDT tool, but no flows were established. As expected heavy oil was also encountered in the shallower Buah, Miqrat and Amin formations. SE-7 has been temporarily suspended for possible testing and further study.

The rig has been moved to drill the Farha South-7 well ("FS-7") on Block 3, an appraisal well designed to test for the presence of oil in the Lower Al Bashir section nearby the Farha South-3 well, in the Farha South field. The drill site is located 425 meters southwest of FS-3, drilled in early 2009.

Tethys has a 30 percent interest in Blocks 3 and 4. Partners are Mitsui E&P Middle East B.V. with 20 percent and the operator CC Energy Development S.A.L. (Oman branch) holding the remaining 50 percent.

Tethys Contracts Rig, Accelerates Drilling Program in Oman

Tethys Contracts Rig, Accelerates Drilling Program in Oman

Wednesday, March 30, 2011

Tethys Petroleum Ltd.

The development and exploration program on Blocks 3 and 4 onshore the Sultanate of Oman accelerates after a second drilling rig has been contracted. The first well being drilled by this rig is the Farha South-6 well ("FS-6") on Block 3.

The new rig, a 750 horsepower Deutag T-55, is operated by UK drilling contractor KCA Deutag Drilling Company. The new rig will be used alongside the Abraj 204 rig already in use on the Blocks, and currently drilling the SE-7 exploration well on Block 4.

"We are very pleased that the work program of Blocks 3 and 4 of Oman is been accelerated, underpinning both the extent of Blocks 3 & 4 areas which remain un-explored to-date as well as remaining geological uncertainties before a fully-fledged development plan is put in place.

Two rigs will allow a speedier drilling schedule for 2011," said Magnus Nordin, Managing Director of Tethys Oil AB.

FS-6 is drilled as a vertical well, designed to target the lower Barik formation. The drill site is located 140 meters southeast of well FS-4 and 750 meters south-southwest of well FS-3.

Tethys has a 30 percent interest in Blocks 3 and 4. Partners are Mitsui E&P Middle East B.V. with 20 percent and the operator CC Energy Development S.A.L. (Oman branch) holding the remaining 50 percent.